County property values fall $1.24 billion
Assessments: Many homeowners will get revaluation notices
“The total assessed value of real property in Thurston County dropped by more than $1 billion as the malaise afflicting the housing market took firm hold this year.
The Thurston County Assessors Office will mail out revaluation notices today to about 122,500 property owners who saw a change in the value of their property. The assessment is one factor used to determine the amount of taxes property owners must pay next year. The deadline for appeals is Oct. 20,” quoting The Olympian.
Revenue forecast shows $238 million drop; special session unlikely
“Revenue forecaster Arun Raha of the Office of the Economic and Revenue Forecast repeated his view today that the recession appears over, but that state revenues will be lower than he expected in June…
His new September report says revenue collections through June 30 were $6.8 million less than expected in his June forecast. It goes on to make another $230.9 million downward adjustment in the expected level of revenue through June 2011, pegging that at $29.6 billion for the two-year budget period…
The new revenue numbers mean that the state will be $200 million in the red by June 2011, even with the state’s Rainy Day fund money used to balance books. Moore said the state would need about $750 million to $1 billion in new revenue to bring the state out of red ink and to an appropriate level of finances, but he did not call for raising revenues,” quoting The Olympian.
WITH THE STATE REVENUES DROPPING, WHEN WILL WE HEAR ABOUT MORE REVENUE DROPS FOR THE CITY OF YELM, TOO?